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S. Korea Develops Town Management Cooperatives for Urban Regeneration

S. Korea Develops Town Management Cooperatives for Urban Regeneration

SEJONG, Dec. 7 (Korea Bizwire) — The South Korean government plans to foster the creation of town management cooperatives to promote resident participation in the New Deal Project for Urban Regeneration. The Ministry of Land, Infrastructure and Transport (MOLIT) announced on Thursday that it will sign an agreement with the Korea Social Enterprise Promotion Agency, [...]

Gov’t to Lower Child-rearing Expenses to Tackle Low Birthrate

Gov’t to Lower Child-rearing Expenses to Tackle Low Birthrate

SEOUL, Dec. 7. (Korea Bizwire) — South Korea on Friday announced a set of measures to remove the fundamental causes cited for drop in country’s birthrate, including the high cost of child-rearing and increasing number of people opting not to have children. The roadmap was finalized as Kim Sang-hee, vice-chairwoman of a presidential committee aimed [...]

Financial Firms Can Use Personal Credit Information via Cloud Computing from Next Year

Financial Firms Can Use Personal Credit Information via Cloud Computing from Next Year

SEOUL, Dec. 7. (Korea Bizwire) — The financial regulator has eased a rule that will allow financial firms to use personal credit information through a cloud computing service from next year, officials said Friday. So far, financial firms have been allowed to use cloud computing services on businesses that are not related to customers’ information [...]

Seoul Approves Women-only Taxis and Rejection-proof Call Taxis

Seoul Approves Women-only Taxis and Rejection-proof Call Taxis

SEOUL, Dec. 6 (Korea Bizwire) — The Seoul Metropolitan Government announced on Wednesday that it plans to introduce call taxis specifically designed to prevent taxi drivers from rejecting customers as well as reservation taxis available exclusively for female customers before the end of the year. These taxis will be allowed to operate immediately following official [...]

62,000 Stores Join Zero Pay Transaction System

62,000 Stores Join Zero Pay Transaction System

SEOUL, Dec. 4 (Korea Bizwire) — More than 60,000 member stores of popular franchises across South Korea will be participating in the new government-led Zero Pay program. The Seoul Metropolitan Government, Ministry of SMEs and Startups, Busan Metropolitan Government, and South Gyeongsang Provincial Office signed an agreement with 26 franchises on Monday to implement the [...]

Mortgage Burden Likely to Get Heavier as BOK Lifts Key Rate

Mortgage Burden Likely to Get Heavier as BOK Lifts Key Rate

SEOUL, Nov. 30 (Korea Bizwire) — Households may have to cope with higher mortgage rates as the Bank of Korea (BOK) raised its key interest rate for the first time in a year, market watchers said Friday. In a widely anticipated move to cool property prices, the BOK lifted its key rate by 25 basis [...]

Pet Service Centers to Offer Comprehensive Pet Care Support

Pet Service Centers to Offer Comprehensive Pet Care Support

SEOUL, Nov. 30 (Korea Bizwire) – The South Korean government plans to build centers that will provide comprehensive services for pets to address increasing demand, as more than 6 million households now own pets. The Ministry of Agriculture, Food and Rural Affairs said on Thursday that the government is planning to invest 4.8 billion won [...]

S. Korean Nuclear Power Industry Buoyed by Taiwanese Decision to Halt Nuclear Phase-Out

S. Korean Nuclear Power Industry Buoyed by Taiwanese Decision to Halt Nuclear Phase-Out

SEOUL, Nov. 27 (Korea Bizwire) — After voters in Taiwan approved a referendum to stop the phase-out of nuclear power, South Korean advocates of nuclear energy have started to speak out about having a similar public discourse surrounding Korea’s own planned nuclear phase-out. The South Korean government has officially said that it plans to go [...]